Notional Exponent Bug Bounty Program

Program Overview

Notional Exponent is a leveraged yield protocol that enables users to maximize returns on DeFi yield strategies with leverage. It represents a major evolution of Notional's core product. Notional was founded in 2020 to bring fixed rate lending to DeFi and we've been working on lending products ever since. Notional Exponent narrows our focus on what we do best.

For more information about Notional Exponent, please visit https://notional.finance/

Rewards

Notional Exponent provides rewards in USDC, USDT, ETH, DAI on Ethereum, denominated in USD.

Rewards by Threat Level

Smart Contract

Critical

• Max: $250,000
• Min: $10,000

High

• Up to: $50,000

Reward Calculation for Critical Level Reports

For critical smart contract bugs, the reward amount is 10% of the funds directly affected up to a maximum of USD $250,000. The calculation of the amount of funds at risk is based on the time and date the bug report is submitted.

Repeatable Attack Limitations

• If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attack will be considered for a reward.
• The amount of funds at risk will be calculated with the impact of the first attack being at 100% and then a reduction of 25% from the amount of the first attack for every 300 blocks the attack needs for subsequent attacks from the first attack, rounded down.

Reward Calculation for High Level Reports

High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of $10,000 to $50,000 with the reward calculated based on 25% of the funds at risk, though capped at the maximum high reward.

In the event of temporary freezing, the reward doubles from the full frozen value for every additional 24h that the funds are temporarily frozen, up until a max cap of the high reward.

Reward Payment Terms

Payouts are handled by the Notional Exponent team directly and are denominated in USD. However, payments are done in USDC, USDT, ETH, DAI on Ethereum.

The calculation of the net amount rewarded is based on the average price between CoinMarketCap.com and CoinGecko.com at the time the bug report was submitted. No adjustments are made based on liquidity availability.

Eligibility & Requirements

KYC Requirement

Notional Exponent will be requesting KYC information in order to pay for successful bug submissions. The following information will be required:

• Full name
• Date of birth
• Proof of address (either a redacted bank statement with address or a recent utility bill)
• Copy of Passport or other Government issued ID

Proof of Concept

Proof of concept is always required for all severities.

Primacy of Impact

Notional Exponent adheres to the Primacy of Impact for the following impacts:

• Smart Contract — Critical
• Smart Contract — High

Primacy of Impact means that the impact is prioritized rather than a specific asset. This encourages security researchers to report on all bugs with an in-scope impact, even if the affected assets are not in scope.

When submitting a report on Immunefi's dashboard, the security researcher should select the Primacy of Impact asset placeholder. If the team behind this project has multiple programs, those other programs are not covered under Primacy of Impact for this program. Instead, check if those other projects have a bug bounty program on Immunefi.

If the project has any testnet and/or mock files, those will not be covered under Primacy of Impact.

All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms and conditions set within this program.

Responsible Disclosure

Category 1: Transparent

Prohibited Activities

• Any testing on mainnet or public testnet deployed code; all testing should be done on local-forks of either public testnet or mainnet
• Any testing with pricing oracles or third-party smart contracts
• Attempting phishing or other social engineering attacks against our employees and/or customers
• Any testing with third-party systems and applications (e.g. browser extensions) as well as websites (e.g. SSO providers, advertising networks)
• Any denial of service attacks that are executed against project assets
• Automated testing of services that generates significant amounts of traffic
• Public disclosure of an unpatched vulnerability in an embargoed bounty
• Any other actions prohibited by the Immunefi Rules

Feasibility Limitations

The project may be receiving reports that are valid (the bug and attack vector are real) and cite assets and impacts that are in scope, but there may be obstacles or barriers to executing the attack in the real world. In other words, there is a question about how feasible the attack really is. Conversely, there may also be mitigation measures that projects can take to prevent the impact of the bug, which are not feasible or would require unconventional action and hence, should not be used as reasons for downgrading a bug's severity.

Therefore, Immunefi has developed a set of feasibility limitation standards which by default states what security researchers, as well as projects, can or cannot cite when reviewing a bug report.

These include:

• Chain Rollbacks
• Pre-Impact Bug Monitoring
• Attack Investment Amount
• Attacks With A Financial Risk To The Attacker
• When Is An Impactful Attack Downgraded To Griefing?

Audits